2024-05-22 Rial Omani News

Summary of Yesterday

  • Opening:
  • Closing:
  • Difference of Opening & Closing:
  • Daily High:
  • Daily Low:
  • Difference of Daily High & Low:

Statistical Measures

  • Mean:
  • Standard Deviation:

Trend

Understanding the overall trend of the exchange rates

From the given data, we can see that the overall trend of the OMR exchange rate fluctuates slightly but stays relatively stable throughout the given period. The smallest value of the OMR exchange rate was 3.53736, while the highest was 3.55245. The exchange rate seemed to have minor fluctuations within this narrow range. These minor fluctuations suggest that the market experienced moderate volatility during the period. However, more data and deeper statistical analysis are needed to confirm this trend and its significance.

Identifying any seasonality or recurring patterns

As for seasonality or recurrent patterns, the available data in the given period does not appear to clearly indicate any. The OMR exchange rate, during the period, did not exhibit conspicuous upward or downward progressive trend. Furthermore, it has been difficult to pin down precisely recurring patterns as the exchange rate variability seems to occur fairly randomly over time. To derive any real seasonality in the data more extended period of data might be required, perhaps on a monthly or yearly basis.

Noting any outliers

Scrutinizing the provided data series, it doesn't seem that there are significant outliers – the majority of fluctuations are minor and within a predictable range. However, there are a few instances, such as at timestamp 2024-05-21 07:35:03, where the value of the exchange rate spikes to 3.54562, which represents a steep increase relative to surrounding figures. Similarly, at timestamp 2024-05-21 07:00:03, the exchange rate drops to a period low of 3.53736. Such instances may warrant further exploration to understand what caused these unusual movements, although they do not qualify as dramatic outliers given the overall volatility of the series.

Please note that this analysis is based purely on the quantitative data provided. It might be valuable, in further analysis, to correlate these findings with contributing external factors such as global economic indicators, geopolitical developments, or market sentiment indices. However, this was outside the scope of your current request.

hange Rates In a world of fast-paced financial news and continuous economic shifts, the Omani Rial (OMR) has once again captured substantial attention. The Omani currency was seen to fluctuate significantly on the 21st of May, 2024, demonstrating a notable variance in exchange rate trends. Beginning the day on a modest note of 3.54297, the OMR saw marginal dips and ascents within the first few hours. It appeared to juggle between minimal peaks and troughs during the early hours, leading to an initial period of instability. This morphed into a more notable downward trend in the early pre-dawn hours. By 7.00 AM, the exchange rate had drifted to a low of 3.53736, representing an unexpected drop. However, not all was lost for the Middle East''s stalwart currency. In a dramatic turn of events, the OMR surged from 3.53736 to 3.55245 between 7 AM and 8:05 AM. The abrupt rise marked one of the steepest and most exciting phases of the day, unveiling a sudden and unexpected climb that inevitably intrigued investors. The exchange rate then settled down to more moderate fluctuations. As the day wore on, it flirted with both the lower 3.54s and higher 3.54s, creating a picture of tempered activity. Yet the question remains, why the fluctuations? Analysts suggest that several factors could be at play, from economic conditions, international trade shifts, to monetary policy decisions made by the Central Bank of Oman. However, the varying exchange rate can also have potential impacts on the market. A weaker OMR makes imported goods more pricey, which can lead to increased inflation and pressures on consumers and businesses. On the other hand, it also makes Oman''s exports more competitive and attractive on the global market. Looking forward, much depends on how the Central Bank of Oman steers its monetary policy. Investors will undoubtedly be keeping a watchful eye on their decisions and the consequences this could have on the OMR and broader economic stability. Monitoring the trends in the currency market remains of utmost importance, ensuring stakeholders stay informed and prepared for future developments. The world of finance thrives on uncertainty and change, and the OMR journey of 21st May 2024 lucidly epitomizes that.OMR Currency Faces Unstable Trend Amidst Fluctuating Exchange Rates

Current Middle Market Exchange Rate

For information purposes only.